Director of Development

Position Description:

Federal Realty Investment Trust is an equity real estate investment trust specializing in the ownership, management, development, and redevelopment of high quality retail assets. Federal Realty's portfolio (excluding joint venture properties) contains approximately 17.5 million square feet located primarily in strategic metropolitan markets in the Northeast, Mid-Atlantic, and California. In addition, the Trust has an ownership interest in approximately 0.7 million square feet of retail space through its joint venture with Clarion Lion Properties Fund in which the Trust has a 30% interest. Our operating portfolio (excluding joint venture properties) was 96.2% leased to national, regional, and local retailers as of March 31, 2006, with no single tenant accounting for more than approximately 2.5% of annualized base rent.

Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 38 consecutive years, the longest record in the REIT industry. Shares of Federal Realty are traded on the NYSE under the symbol FRT.

The Director of Development will be responsible managing the day to day activities required for the planning, permitting and execution of multiple high quality retail real estate development projects in the Mid-Atlantic. Plan and direct the expansion, renovation, and/or new projects through budget creation, control of all expenditures within areas of responsibilities while providing the most economic, efficient maintainable shopping facilities that have a high quality of design and create a sense of place.

Responsibilities Include: The Director of Development?s responsibilities include the following:

? Create and manage the development proforma
? Create and manage the development schedule
? Obtain entitlements and permits required to develop the project
? Expedite the projects path through complex entitlement processes
? Meet with public agencies and neighborhood groups to develop support
? Work closely with federal, state and local agencies to facilitate required public improvements
? Manage the design process including master-planning, civil engineering, architecture, traffic engineering, geotechnical, environmental, lighting, landscape and graphic design
? Negotiate partnership deal structures with public agencies
? Work with leasing agents to establish merchandising plans and to establish a lease-up schedule
? Work with general contractors through the design process to confirm budgets, schedules, and constructability
? Negotiate construction contracts
? Develop lease exhibits and tenant criteria
? Review anchor tenant leases
? Work with marketing to appropriately market the project to tenants and the general public
? Work with development accounting to create and maintain systems that provide accurate cost reporting

Qualifications: The successful candidate should have a college degree and should have at least 8 years of experience with a commercial (preferably retail) real estate owner/developer.

Candidates should have the additional qualifications:

? In-depth knowledge of engineering and architectural plans

? Working knowledge of contract law, zoning law, real estate finance, and construction management

? Excellent analytic skills (Excel and Microsoft Project)

? Must be a motivated, self-starter with ability to work with minimal supervision and to function in a team environment effectively communicating and sharing information with people in other departments within the company

? Excellent interpersonal, verbal and written communication skills

EOE, M/F/DV






To Apply Visit Federal Realty Investment Trust